CARILED presents economic profile for San Pedro Town

Monday, October 17th, 2016

Representatives of the Caribbean Local Economic Development Project (CARILED), along with The San Pedro Town Council (SPTC) held a presentation on Thursday, October 13th in regards to the local economic profile for the town of San Pedro. CARILED has been working closely with municipalities around Belize guiding them to develop economic strategic plans. The presentation held at the Mayor’s office presented a document that explains drivers of the economy on the island, as well the barriers that affect the growth of businesses in San Pedro Town. Leading the presentation was CARILED Local Resource Consultant Keisha Rodriguez, who highlighted a detailed overview of the economic developments on the island. According to the findings from the survey done, the results serve as a guide how to break down the barriers that keep the micro, small and medium-sized (MSMEs) enterprises on the low. One of the results from the project was the creation of a document which details key pointers in order to achieve desired results concerning the local economy. The document will be ready for stakeholders to take a look and take advantage of its valuable information. According to Rodriguez the economic sector of San Pedro is made up mainly of MSMEs which are the main generators of jobs and revenues for the island. “San Pedro is one of the fastest growing municipalities in the country; thus, we tend to have a lot of businesses sprouting everywhere. These new businesses should be assisted with this guidance so that they don’t shut down as soon as they open,” said Rodriguez. CARILED representative Leidy Urbina also explained what the project means for the island. According to her, the document presented included statistical and demographic information which pointed out to the opportunities for business growth and expansion and how different obstacles can be addressed. “Looking at the economic aspect of San Pedro, we want to speak about a process that is participatory, inclusive and led by the authorities of the municipality, but with input from the residents of the private sector and the community as a whole,” she said. The finding of the profile also revealed that San Pedro keeps growing at a rapid pace, with its population rapidly increasing. This supports the fact that a large chunk of its population lives in rentals and only about 30% have their own means of transportation. Many of the businesses expressed to be satisfied with the Town Board’s trade licenses fees, their support toward the development of their businesses and over 60% declared that getting financial accessibility for business ventures on the island is fairly easy. CARILED and the SPTC invites interested stakeholders to visit their offices where they can have a look at the document detailing the economic profile of the town. Anyone with ideas for business plans can seek professional guidance by visiting the offices of the Town Board on Barrier Reef Drive where the document is available for reviewing. The document supported by CARILED was made solely for the island to be used by residents, the municipality, and private sector and look at the gap for opportunities for investment and MSMEs development.